Brigade Enterprises has launched Brigade Misty Greens, a premium residential development in Mysuru, through a Joint Development Agreement. The project spans 4.5 acres and holds a projected revenue potential of over Rs 300 crores. This launch consolidates the company's presence in one of South India's key real estate markets.

The disclosure was made to the National Stock Exchange of India and BSE Limited pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by P. Om Prakash, Company Secretary & Compliance Officer.

Brigade Misty Greens will feature three and four-bedroom apartment units alongside 14 exclusive Duplex units. The project is located near the Jayachamaraja Wadiyar Golf Club and Chamundi Hills, offering views of greenery and hills. Its proximity to commercial hubs, educational institutions, healthcare facilities, and malls is intended to provide convenience to residents.

Pavitra Shankar, Managing Director of Brigade Enterprises Limited, stated that Mysuru is an important market for the company. She noted that Brigade is the only listed player with a strong presence in the city, having developed over 26 projects across residential, commercial, and hospitality sectors.

Project Details

Brigade Enterprises has cancelled the preferential allotment of convertible warrants to its promoter group, M/s. Mysore Holdings Private Limited, following the entity's decision to withdraw the proposal in deference to investor sentiment. The Board of Directors approved the withdrawal during a meeting held on July 17, 2026, effectively halting the capital raise plan that was initially sanctioned to demonstrate promoter confidence.

Withdrawal of Proposed Issue

The company had previously approved the issuance of up to 34,23,000 convertible warrants, which were convertible into an equivalent number of equity shares. The issue price was set at ₹526 per share, comprising a face value of ₹10 and a premium of ₹516. The total aggregation of the proposed issue was ₹180,04,98,000. The promoter group entity, however, decided against proceeding with the subscription, citing the sentiments expressed by funds and investors as the reason for its withdrawal.

Board Approval and Compliance

The Board meeting to approve the cancellation commenced at 2.00 p.m. and concluded at 2.25 p.m. on July 17, 2026. The decision was communicated to the National Stock Exchange of India Limited and BSE Limited in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The withdrawal follows the Board's initial approval on July 15, 2026, and subsequent correspondence dated July 10 and July 15, 2026.